Stock price
Market cap
At each fiscal year end: closing price × shares outstanding.
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| Period | Market cap |
|---|---|
| FY2016, ended Dec 31, 2016 | $165B |
| FY2017, ended Dec 31, 2017 | $191B |
| FY2018, ended Dec 31, 2018 | $122B |
| FY2019, ended Dec 31, 2019 | $168B |
| FY2020, ended Dec 31, 2020 | $129B |
| FY2021, ended Dec 31, 2021 | $120B |
| FY2022, ended Dec 31, 2022 | $87.9B |
| FY2023, ended Dec 31, 2023 | $98.3B |
| FY2024, ended Dec 31, 2024 | $133B |
| FY2025, ended Dec 31, 2025 | $204B |
Revenue
By fiscal year
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| Period | Revenue |
|---|---|
| FY2016, ended Dec 31, 2016 | $70.8B |
| FY2017, ended Dec 31, 2017 | $72.4B |
| FY2018, ended Dec 31, 2018 | $72.9B |
| FY2019, ended Dec 31, 2019 | $75.1B |
| FY2020, ended Dec 31, 2020 | $75.5B |
| FY2021, ended Dec 31, 2021 | $71.9B |
| FY2022, ended Dec 31, 2022 | $75.3B |
| FY2023, ended Dec 31, 2023 | $78.1B |
| FY2024, ended Dec 31, 2024 | $80.7B |
| FY2025, ended Dec 31, 2025 | $85.2B |
Net income and free cash flow
By fiscal year. Free cash flow is operating cash flow minus capex.
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| Period | Net income | Free cash flow |
|---|---|---|
| FY2016, ended Dec 31, 2016 | $14.9B | $51.0B |
| FY2017, ended Dec 31, 2017 | −$6.80B | −$12.1B |
| FY2018, ended Dec 31, 2018 | $18.0B | $33.2B |
| FY2019, ended Dec 31, 2019 | $19.4B | −$18.2B |
| FY2020, ended Dec 31, 2020 | $11.0B | −$26.9B |
| FY2021, ended Dec 31, 2021 | $22.0B | $43.0B |
| FY2022, ended Dec 31, 2022 | $14.8B | $19.4B |
| FY2023, ended Dec 31, 2023 | $9.23B | −$80.0B |
| FY2024, ended Dec 31, 2024 | $12.7B | −$26.2B |
| FY2025, ended Dec 31, 2025 | $14.3B | −$74.2B |
Cash and cash equivalents
At each fiscal year end.
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| Period | Cash and cash equivalents |
|---|---|
| FY2016, ended Dec 31, 2016 | $160B |
| FY2017, ended Dec 31, 2017 | $181B |
| FY2018, ended Dec 31, 2018 | $188B |
| FY2019, ended Dec 31, 2019 | $194B |
| FY2020, ended Dec 31, 2020 | $310B |
| FY2021, ended Dec 31, 2021 | $262B |
| FY2022, ended Dec 31, 2022 | $342B |
| FY2023, ended Dec 31, 2023 | $261B |
| FY2024, ended Dec 31, 2024 | $277B |
| FY2025, ended Dec 31, 2025 | $350B |
Total debt
At each fiscal year end. Short- and long-term borrowings, excluding leases.
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| Period | Total debt |
|---|---|
| FY2016, ended Dec 31, 2016 | $237B |
| FY2017, ended Dec 31, 2017 | $281B |
| FY2018, ended Dec 31, 2018 | $264B |
| FY2019, ended Dec 31, 2019 | $294B |
| FY2020, ended Dec 31, 2020 | $301B |
| FY2021, ended Dec 31, 2021 | $282B |
| FY2022, ended Dec 31, 2022 | $319B |
| FY2023, ended Dec 31, 2023 | $324B |
| FY2024, ended Dec 31, 2024 | $336B |
| FY2025, ended Dec 31, 2025 | $368B |
Shares outstanding
At each fiscal year end, adjusted for splits. Down 36.9% since FY16.
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| Period | Shares outstanding |
|---|---|
| FY2016, ended Dec 31, 2016 | 2.77B |
| FY2017, ended Dec 31, 2017 | 2.57B |
| FY2018, ended Dec 31, 2018 | 2.35B |
| FY2019, ended Dec 31, 2019 | 2.11B |
| FY2020, ended Dec 31, 2020 | 2.09B |
| FY2021, ended Dec 31, 2021 | 1.98B |
| FY2022, ended Dec 31, 2022 | 1.94B |
| FY2023, ended Dec 31, 2023 | 1.91B |
| FY2024, ended Dec 31, 2024 | 1.88B |
| FY2025, ended Dec 31, 2025 | 1.75B |
Buybacks and new shares
By fiscal year, in dollars. Below zero: bought back. Above zero: issued to employees, sold or used in acquisitions.
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| Period | Bought back |
|---|---|
| FY2016, ended Dec 31, 2016 | $9.29B |
| FY2017, ended Dec 31, 2017 | $14.5B |
| FY2018, ended Dec 31, 2018 | $14.4B |
| FY2019, ended Dec 31, 2019 | $17.6B |
| FY2020, ended Dec 31, 2020 | $2.92B |
| FY2021, ended Dec 31, 2021 | $7.60B |
| FY2022, ended Dec 31, 2022 | $3.25B |
| FY2023, ended Dec 31, 2023 | $1.98B |
| FY2024, ended Dec 31, 2024 | $2.47B |
| FY2025, ended Dec 31, 2025 | $13.3B |
Valuation
At current price- Market Cap
- $215B
- P/E
- 15.0×
- Forward P/E
- —. Needs analyst estimates; not available from the current data provider
- Price / Sales
- 2.5×
- Price / Book
- 1.0×
- EV / EBITDA
- —. (Market cap + debt − cash) / EBITDA (TTM)
Growth
Trailing 12 months- Revenue (TTM)
- $85.2B
- Revenue Growth YoY
- 5.6%
- Revenue CAGR 3Y
- 4.2%
- Revenue CAGR 5Y
- 2.5%
- EPS Growth YoY
- 17.7%
- Net Income Growth YoY
- 12.8%
Profitability
Trailing 12 months- Gross Margin
- —
- Operating Margin
- —
- Net Margin
- 16.8%
- FCF Margin
- −87.0%
- Return on Equity
- 6.8%
Earnings
Trailing 12 months- Net Income
- $14.3B
- EPS (diluted)
- $6.99
- EBITDA
- —. Operating income + depreciation & amortization
- Operating Income
- —
Balance Sheet
As of Dec 31, 2025- Cash and cash equivalents
- $350B
- Total Debt
- $368B
- Net Debt
- $18.1B
- Total Assets
- $2.66T
- Total Liabilities
- $2.44T
- Shareholders' Equity
- $212B
Cash Flow
Trailing 12 months- Operating Cash Flow
- −$67.6B
- Capital Expenditure
- $6.52B
- Free Cash Flow
- −$74.2B
Dividends and risk
Last 12 months- Dividend Yield
- 2.0%
- Dividend / Share
- $2.47
- Beta (5Y)
- 1.13
Every ratio is calculated from the company’s reported figures.